Looking for professionals interested in Business Sustainability to start a local Green Chamber in both San Diego and Orlando. If you are interested please contactAlexandraB@USGreenChamber.comor call 407-310-1744.

U.S. Green Chamber CEO Receives International Award

Michelle Thatcher, CEO of the U.S. Green Chamber of Commerce, has received the Global Excellence Award as part of the Sustainable Brands Summit in Mumbai, India. Dr. R.L. Bhatia, founder of the World Brand Congress and World CSR Day, presented the award as part of the three day event. The summit focused on developing and nurturing brands that are sustainable in today’s competitive and rapidly changing markets. It was the single largest meeting of some of the world’s most successful and sought after brand marketing experts. Leaders from SAP, Cannon, Microsoft, Disney, Unilever, Sustainable Industries, Qatar Today, and hundreds of others were represented.

On March 28, 2014, the International Green Industry Hall of Fame will recognize leaders and visionaries in the green industry at their 4th annual Conference and Induction Ceremony held at San Jose State University. Visit their website for more information!

Many thanks to Biosynthetic Technologies, a U.S. Green Chamber of Commerce Member, for providing this informational article on California Senate Bill 916.

New Bill Sets Standard for Green Motor Oil

By Gregory D. Blake,Director of Public & Government Relations for Biosynthetic Technologies (www.biosynthetic.com)

A new state bill SB 916 recently introduced by California Senator Lou Correa (D-Santa Ana) offers an innovative approach to protect California’s water resources and public health by requiring a minimum bio-based content standard for motor oil sold in California. This legislation is an important step forward for our nation’s green economy.

Used motor oil is the largest volume of hazardous waste generated in California, with approximately 150 million gallons of motor oil purchased every year, generating over 90 million gallons of used oil. However, only about 76 million gallons are actually collected, and only 10-12 million gallons are re-refined into motor oil. Most of the used oil is shipped out of state and burned as fuel, producing harmful greenhouse gas emissions. An estimated 14-16 million gallons are illegally dumped, finding its way into California’s rivers, lakes and streams, degrading our drinking water supplies and adding to storm water and coastal pollution.

SB 916 introduces a new “clean technology,” developed in cooperation with the US Department of Agriculture, for a bio-based synthetic motor oil. The bio-based content of biosynthetic motor oil is biodegradable, non-toxic and does not bio-accumulate in marine organisms. The bio-based component can be made from many renewable sources found in plant and animal oils, as well as algae, increasing its environmental value.

This article will educate entrepreneurs on 7 common mistakes to help avoid tax pitfalls in the future.

The most common mistakes we see are:

1) Most businesses are not in the correct legal entity for optimal tax strategy. Many chose their strategy only from a legal point of view.

2) Business owners wait for the tax professional to notify you of your tax obligations. In most cases, you have to ask.

3) Entrepreneurs think that tax preparers have reviewed their books for accuracy. This is not their job and if you read your engagement letters closely, you may notice that they require you to assert to the accuracy of the numbers you are presenting.

4) Most wait until the end of the year to prepare taxes after the year is already done, and do not plan for the upcoming year.

5) Entrepreneurs do not take responsibility for their tax obligation and think that by hiring a tax professional there is nothing else to do. The responsibility and ownership of business taxes remains with the business and its owners. Tax professionals are advisors and preparers, not owners.

6) For those who do plan, most only plan for income taxes, and miss requirements for other tax types in the business.

7) Owners use tax professionals for all of their accounting needs. It is like using a chiropractor to deliver a baby. Most do not know how to best leverage their financial professionals to get the best service and advice. Businesses need both a financial accountant (help owners use financials for day-to-day business operations) AND a tax accountant (help owners use financials for opportunities to strategically reduce tax liability.)